About eight in 10 emerging affluent investors have earned or increased their assets on their own, a trait they share with the millionaires, according to the study.

They share millionaires’ long-term focus, according to Fidelity, with three in four of both groups focused on the long-term growth of their assets, and three in 10 focused on supporting the lifestyle they want in retirement.

Similar to deca-millionaires, which Fidelity describes as individuals with over $10 million in investable assets, the emerging affluent display a willingness to invest aggressively to help maximize returns, as well as a willingness to set aside a significant portion of their portfolio for riskier investments that promise a bigger payoff.

Both groups were also most likely to describe themselves as “self-directed” investors, seeking hands-on involvement with their investments.

“Advisors need to get the word out that they want these clients. This is a big opportunity, but advisors better have their eyes wide open and better take the time to appreciate the nuance here or they won’t be effective,” says Oros.

Bellomy Research conducted the online survey of 1,064 respondents with investable assets between $50,000 to more than $10 million in July.

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